DA Davidson & Co. increased its shares in Shopify Inc. (NYSE:SHOP – free report) (TSE:SHOP) by 6.3% in the first quarter, according to the company’s latest 13F filing with the Securities and Exchange Commission. . The company owns 54,370 shares in the software maker after acquiring an additional 3,208 shares during the quarter. DA Davidson & Co.’s Shopify holdings were worth $2,606,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of SHOP. Baillie Gifford & Co. increased his stake in Shopify shares by 12.3% during the fourth quarter. Baillie Gifford & Co. now owns 72,447,961 shares of the software maker, valued at $2,514,667,000, with an additional 7,936,912 shares purchased during the period. Vanguard Group Inc. increased its position on Shopify by 3.2% in the third quarter. Vanguard Group Inc. acquired an additional 1,198,494 shares during the period and now owns 38,491,544 shares of the software maker, valued at $1,036,963,000. Sands Capital Management LLC increased its Shopify stake by 9.8% in the fourth quarter. Sands Capital Management LLC purchased an additional 2,222,488 shares last quarter and now owns 24,802,735 shares of the software maker, valued at $860.903 million. ARK Investment Management LLC increased its stake in Shopify by 5.3% in the first quarter. ARK Investment Management LLC now owns 13,985,791 shares of the software maker, valued at $670,479,000, after purchasing an additional 706,688 shares during the period. Finally, Franklin Resources Inc. expanded its position in Shopify stock by 4.7% in the fourth quarter. Franklin Resources Inc. purchased an additional 618,195 shares last quarter and now owns 13,867,598 shares of the software maker, valued at $481,378,000. Institutional investors and hedge funds currently hold 58.14% of the shares.
Shopify Stock Up 2.0%
NYSE SHOP shares opened Wednesday at $63.14. The company has a 50-day moving average price of $61.67 and a 200-day moving average price of $50.22. The company has a debt to equity ratio of 0.11, a quick ratio of 6.71 and a current ratio of 6.71. Shopify hit a 52-week low of $23.63 and a 52-week high of $67.36. The company has a market cap of $80.6 billion, a P/E of -41.81 and a beta of 2.03.
Shopify (NYSE:SHOP – Get Free Report) (TSE:SHOP) last reported earnings on Thursday, May 4th. The software maker reported earnings per share (EPS) of $0.08 for the quarter, beating consensus expectations ($0.16) by $0.08. The business had sales of $1.51 billion in the quarter, compared with analyst expectations of $1.44 billion. Shopify had a net profit margin of 32.49% and a return on equity of 6.02%. Equity analysts expect Shopify to post earnings per share of minus 0.14 this year.
Analyst upgrades and downgrades
Several equity research analysts recently released reports on the company. DA Davidson raised his price target on Shopify from $50.00 to $67.00 in a research note on Friday, May 5th. Oppenheimer increased its target price on Shopify from $70.00 to $80.00 in a research report on Tuesday, June 20th. Royal Bank of Canada raised its price target on Shopify from $65.00 to $75.00 in a research report on Friday, May 5. Jefferies Financial Group raised its price target on Shopify stock to $65.00 from $44.00 in a research report on Sunday, June 11. Finally, Loop Capital reissued a “hold” rating for Shopify shares in a report on Tuesday, May 9. Two research analysts issued sell ratings, 23 hold ratings, and 13 buy ratings on the company’s stock. According to MarketBeat.com, the company currently has an average valuation of Hold and a consensus price target of $56.20.
Shopify Inc, a commerce company, offers commerce platforms and services in Canada, the United States, Europe, the Middle East, Africa, Asia Pacific, and Latin America. The company’s platform allows merchants to display products through a variety of sales channels including web and mobile storefronts, physical retail stores, pop-up shops, social media storefronts, native mobile apps, buy buttons and marketplaces. , manage, market and sell. We also manage products and inventory, process orders and payments, fulfill and ship orders, build new buyer and customer relationships, procure products, leverage analytics and reporting, manage cash, payments and transactions, and access financing. access will be possible.
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